ACQUISITION_PRICE
$3.1M
Acquisition Price
February 2023 All-in
MAI_APPRAISAL
$12.0M
MAI Appraisal
Newmark · Jan 29, 2025 · rounded for display
CORRIDOR_ADJ
~$15.0M
Corridor-Adjusted
Internal analysis only
VERIFIED_NOI
$790K
Verified NOI
$790,216 exact · CPA-Reviewed · FY2025
DSCR_LENDER_VAL
1.44x
DSCR
Lender Validated
MOAT_SCORE
95/100
MOAT Score
441-Point Framework
Available to verified accredited investors only · 48-hr response
Investment Narrative
The case for The Center was built on verified operations. The data center upside is the second act.
The Acquisition
1509 Rapids Drive was acquired in February 2023 for $3.1M — standard pricing for a 322,000 SF industrial campus in an unrecognized market. The acquisition was underwritten on self-storage NOI alone. The data center thesis was upside.
SOURCE: PROP_RECORD Feb 2023 Racine County
The Operations
36 consecutive months of verified profitability. $790,216 annual NOI from self-storage. DSCR of 1.44x independently validated by the institutional lender. 60+ tenants. CPA-reviewed records.
SOURCE: CPA_REVIEW Annual Verified actuals
The Infrastructure Position
The Center sits 10 miles from the primary $20B hyperscaler campus in the $58B+ Wisconsin corridor. Four fiber carriers confirmed. 800-foot lit building. Regional utility substation 0.8 miles away — 32+ MW headroom. RTMP industrial rate: $0.030 to $0.046/kWh.
SOURCE: WE_ENERGIES Form 4158 Confirmed
The Tier 3 Strategy
Three independent utility services — Util-101, Util-102, Util-103. Self-storage cash flow is electrically isolated from data center operations. The electrical isolation architecture is designed to limit cascade risk across revenue streams. Ring 1 ($790K NOI) covers all debt service independent of any data center outcome.
SOURCE: CPA_REVIEW Annual Verified actuals + ELEC_ISO Tier 3 Architecture
Past performance is not indicative of future results.
The Valuation
287%+ appreciation before construction begins.
ACQUISITION_PRICE
$3.1M
Acquisition Cost
February 2023 All-in
MAI_APPRAISAL
$12.0M
MAI-Certified Appraisal
Newmark · Jan 29, 2025 · rounded for display
CORRIDOR_ADJ
~$15.0M
Corridor-Adjusted
Internal analysis only
$12.0M is the MAI-certified appraisal figure (Newmark, January 2025). ~$15.0M is an internal corridor-adjusted analysis — not a certified appraisal. Acquisition cost: $3.1M.
441-Point Framework
MOAT Score
143 independently verified data points · 6 dimensions · all third-party sourced
95/100
MOAT_SCORE 2.1 CI · Ranked #1 of 1,676
All 143 MOAT-verified data points independently sourced. No self-reported estimates.
441 verified data points. Zero self-reported estimates. If the thesis fits your mandate, the briefing is the next step.
Accredited investors only · No obligation · NDA available
Tier 3 Isolation Strategy
Three independent services. Debt service covered by in-place operations.
Ring 1 self-storage cash flow ($790K NOI) is electrically isolated from all data center operations. The electrical isolation architecture is designed to limit cascade risk across revenue streams. Debt service is covered independently — before a single DC dollar is earned.
RING_1_ISOLATION · UTIL-101
Util-101 — Operating Campus: $790K NOI, CPA-reviewed, 1.44x DSCR
Util-102 — DC Phase 1: 3 MW, ~$3.6M est. CapEx, in active discussion
Util-103 — Phase 2 Expansion: 6 to 15 MW, planned future buildout
The operating campus electrical service is isolated from data center operations. Current NOI and DSCR reflect FY2025 operations and are subject to change.
Portfolio Comparison Engine
Where Does SS069 Sit in Your Portfolio?
Adjust your investment size and hold period. See how risk-adjusted performance compares across asset classes.
3-year hold · annually compounded
~ MODELED · 3-year hold, 12–15% annualized preferred return target. Not a guarantee.
Annually compounded · adjust to match your investment horizon
Risk vs. Return — Current Asset Class Landscape
SS069 targets the top-left quadrant — high modeled return with structured downside protection. ᵖ Modeled. Not a guarantee. Volatility positions are qualitative assessments.
| Asset | Return Range | Volatility | Stability | 3-Yr Projected | Source |
|---|---|---|---|---|---|
| SS069 (This Asset) | 12–15% | Low | 9/10 | $702K – $760K p MODELED | MODELED Center Capital internal model · Phase 1 assumptions |
| S&P 500 Index | ~11% annualized | High (−57% max drawdown (2008–09)) | 5/10 | $684K | MARKET Fidelity Financial Solutions · Jan 2006–Dec 2025 |
| Private Equity (net, after fees) | ~10.3% expected | High (Illiquid · vintage-year risk) | 4/10 | $671K | MARKET JP Morgan 2026 LTCMA · Sept 2025 |
| Core Real Estate (US) | ~8.1% expected | Medium | 7/10 | $632K | MARKET JP Morgan 2026 LTCMA · Sept 2025 |
| US Industrial RE (NCREIF) | 4.72% trailing 4Q | Low-Med | 8/10 | $574K | MARKET NCREIF NPI Q3 2025 · unleveraged, pre-fee |
| 10-Year US Treasury | 4.42% current yield | Low | 10/10 | $569K | MARKET Federal Reserve H.15 · Mar 26 2026 |
Your Position
At $500K over 3 years, SS069 targets $702K – $760Kp vs $684K in the S&P 500 — with no public market exposure, no margin calls, and $790K/yr NOI already in operation before Phase 1 begins.
ᵖ SS069 values are modeled preferred return targets. S&P value uses 11% historical annualized (Fidelity, Jan 2006–Dec 2025). Neither is a guarantee.
Higher returns exist in other asset classes. They come with broader uncertainty, longer lock-up periods, or deeper historical drawdowns.
S&P 500 20-year annualized return per Fidelity Financial Solutions (Jan 2006–Dec 2025). Private equity and core real estate return expectations from JP Morgan Asset Management 2026 Long-Term Capital Market Assumptions (data as of Sept 30, 2025). US Industrial RE from NCREIF NPI Q3 2025 press release (unleveraged, pre-fee, trailing 4 quarters). 10-Year Treasury from Federal Reserve H.15, Mar 26 2026. Venture Capital data pending Cambridge Associates source verification — not displayed. SS069 return is a modeled preferred yield target, not a guarantee. Past benchmark performance does not predict SS069 results.
Why Physical Infrastructure Outperforms Paper Assets
Hard Asset Backing
Unlike equities or credit instruments, this investment is secured by a physical campus independently appraised at $12,000,000 — before data center infrastructure generates a single dollar of upside.
VERIFIED · MAI AppraisalIncome Before Upside
The asset generates $790,000 in verified annual NOI from 60+ operating tenants. The data center buildout is not the income source — it is the acceleration layer.
VERIFIED · CPA-ReviewedDSCR-Backed Structure
At 1.44x current DSCR, debt service is covered by in-place cash flows. The existing asset operates independently of Phase 1. Phase 1 represents an expansion path with defined CapEx requirements and execution risk.
VERIFIED · Lender ValidatedDefined Exit Pathways
Microsoft's $20B+ Mount Pleasant commitment confirms hyperscale operator presence in Racine County. Industrial campus conversions in active hyperscale corridors have attracted institutional capital in documented institutional transactions (public market records, CBRE/JLL industrial research). (Public Announcement)
MARKET · Public AnnouncementValue Architecture
Multiple Independent Mechanisms
Support >2× Value Creation Potential
These are structural factors — not projections. Each operates independently of the others.
01 · Acquisition Arbitrage
287%
Acquired at $3.1M in a corridor the market had not yet priced. MAI appraisal: $12.0M. That appreciation occurred before Phase 1 breaks ground — and before a single investor dollar enters construction.
SOURCE: PROP_RECORD Feb 2023 · MAI Appraisal (Newmark, Jan 29, 2025)
02 · In-Place Cash Flow Coverage
1.44x DSCR
$790K verified NOI services all debt independently. Capital deployed into Phase 1 does not carry the property — the property carries itself. Investor capital is not consumed by debt service during the hold period.
SOURCE: CPA_REVIEW FY2025 · Lender Validated DSCR 1.44x
03 · Infrastructure Repricing Event
13 mo. early
The MOAT framework identified this corridor 13 months before the first public hyperscaler announcement. Industrial campuses in active hyperscale corridors have transacted at significant premiums to pre-announcement appraisals.
SOURCE: MOAT 2.1 CI · Microsoft Newsroom Sept 2025 · WE_ENERGIES Form 4158
04 · Power Rate Structural Advantage
$1.50M/yr
RTMP rates of $0.030–$0.046/kWh represent a structural cost advantage of $1.50M/yr vs Chicago and $972K/yr vs Northern Virginia at 3 MW. This advantage is embedded in the tariff — not negotiated, not temporary.
SOURCE: PSCW Tariff 5-UR-111 · WE Energies Confirmed
These four mechanisms are independent of one another. The presence of all four simultaneously in a single asset is what the 441-point MOAT framework was designed to identify. No single mechanism constitutes a guarantee of returns. All figures sourced above. Modeled projections labeled p.
Return Scenarios
We model the downside first.
Click any scenario to toggle it in the chart. All scenarios are modeled projections based on stated assumptions. Not guarantees of future performance.
Even in the combined stress scenario — delay, tenant dropout, and CapEx overrun simultaneously — the modeled return remains 12.8% IRR and 1.8x MOIC.p
Upside Case
31.4%p
4.1x MOICp
95% Y2 RTMP activated Phase 2 early
PRIMARY SCENARIO
Base Case
24.5%p
3.2x MOICp
50% Y1 85% Y2+ 7-yr hold
3-Month Delay
19.8%p
2.8x MOICp
G6 (Phase 1 go-live milestone) slips 90 days
CapEx Overrun
18.1%p
2.6x MOICp
+15% ($726K overage)
Tenant Dropout
16.2%p
2.4x MOICp
2 of 3 tenants 65% occupancy
Combined Stress
12.8%p
1.8x MOICp
Delay + dropout + overrun simultaneously
IRR COMPARISON · 6 ACTIVE
Upside Case
31.4%p IRR
4.1xp
Base Case
24.5%p IRR
3.2xp
3-Month Delay
19.8%p IRR
2.8xp
CapEx Overrun
18.1%p IRR
2.6xp
Tenant Dropout
16.2%p IRR
2.4xp
Combined Stress
12.8%p IRR
1.8xp
All IRR figures are projections only. Not guarantees. Past performance is not indicative of future results. Consult your legal, tax, and financial advisors.
$58B+ Corridor Context
$58B+ Confirmed Capital · 10–55 Miles Away
Our 441-unit framework identified this corridor 13 months before the first public hyperscaler announcement.
Source: Public project announcements + Journal Sentinel Jan 2026. Not indicative of returns for The Center Capital Collective. These operators have no business relationship with The Center Capital Collective.
CORRIDOR INVESTMENT SCALE (PUBLIC COMMITMENTS)
Stargate / Lighthouse
$15B+
Port Washington, Ozaukee County · ~45 mi
◎ OFFICIAL · Vantage Data Centers · Official PR| Project | Location | Investment |
|---|---|---|
| The Center (SS069) | Your Position · 10 mi SE of anchor | Active |
| Microsoft | Mount Pleasant, Racine County · ~10 mi◎ OFFICIAL · Microsoft Newsroom · Sept 2025 | $20B+ |
| Stargate / Lighthouse | Port Washington, Ozaukee County · ~45 mi◎ OFFICIAL · Vantage Data Centers · Official PR | $15B+ |
| QTS / Blackstone | DeForest, Dane County · ~55 mi◎ OFFICIAL · QTS Official · 2025 | $12B |
| Viridian / APECS | Janesville, Rock County · ~50 mi◎ REPORTED · Finance-Commerce · Dec 2025 | $8B |
| Meta | Beaver Dam, Dodge County · ~40 mi◎ OFFICIAL · Meta Newsroom · Nov 2025 | $1B+ |
Power Cost Advantage
Est. $1.50M/yr savings vs Chicago at 3 MW.
RTMP rate confirmed by PSCW tariff 5-UR-111. Annual power cost advantage is structural, not negotiated.
MW_MODELER · MODEL YOUR DEPLOYMENT
MW deployed
range: 0.5 to 15 MW
At 3 MW: Racine RTMP saves est. $1.50M/yr vs Chicago · $972K/yr vs Northern VA
POWER_SAVINGS: Est. $1.50M/yr vs Chicago · $4.99M/yr projected at 10 MW
Chicago: ComEd General Service Large Load tariff · Northern VA: Dominion Energy Schedule TOU-T · Phoenix: APS Schedule LGS · Racine RTMP: PSCW Tariff 5-UR-111. All rates based on publicly available utility filings. Actual rates subject to contract and volume.
Technical Infrastructure
Six independent factors confirm data center readiness.
Every claim verified by a third-party source. No self-reported estimates.
Power
32+ MW Headroom
Regional substation 0.8 mi. RTMP rate $0.030 to $0.046/kWh. WE Energies confirmed capacity via Form 4158.
SOURCE: WE Energies Confirmed
Fiber
4 Fiber Carriers
800-foot lit building. Route diversity confirmed. Sub-millisecond latency to Chicago IX.
SOURCE: 4 Carrier Agreements
Environmental
Flood Zone X Seismic 0
FEMA Flood Zone X. USGS Seismic Zone 0. Zero environmental risk factors identified.
SOURCE: FEMA USGS Public Records
Zoning
M-2 Heavy Industrial
Data center operations permitted as-of-right. No variance, no special exception required. By-Right.
SOURCE: Racine Municipal Records
Building
93/100 Building Score
322,000 SF across 18 structures. Verified floor load and clear height. Structural assessment complete.
SOURCE: Independent Assessment
Financial
287%+ Appreciation
$3.1M acquisition to $12.0M MAI appraisal in 36 months — before data center construction begins.
SOURCE: MAI-Certified Appraisal 2025
Institutional Underwriting
Every metric passes institutional thresholds — before a single DC dollar is counted.
Metrics marked ● reflect verified historical data. Metrics marked ᵖ are modeled projections based on Phase 1 execution assumptions.
| Metric | Field ID | Value | Benchmark | Status |
|---|---|---|---|---|
| Implied Cap Rate (MAI) | CAP_RATE | ~6.6% | Market: 5.5–7.5% industrial | ✓ MARKET |
| Loan-to-Value (LTV)p | LTV | ~40%p | < 70% institutional threshold · in-place LTV available in briefing package | ✓ STRONG |
| Loan-to-Cost (LTC)p | LTC | ~65%p | < 75% institutional threshold | ✓ STRONG |
| Debt Yield (Y1)p | DY_Y1 | 23.0-34.4%p | > 8-10% required | ✓ TOP QUARTILE |
| DSCR (Year 1)p | DSCR_Y1 | 2.50xp | > 1.25x minimum | ✓ PASS |
| DSCR (Stabilized)p | DSCR_STAB | 3.30xp | > 1.25x minimum | ✓ EXCELLENT |
Implied cap rate: verified NOI ($790,216) ÷ MAI-certified appraised value ($12,000,000). Benchmark: CBRE US Cap Rate Survey H2 2024 (industrial).
p DSCR (Year 1) and DSCR (Stabilized) are modeled projections for Phase 1 execution. Lender-validated in-place DSCR is 1.44x (FY2025). Phase 1 modeled assumptions: 50%p occupancy Y1, 85%p Y2+, ~$3.6M estimated CapEx, 7-year hold. Full assumption set available in the investor briefing package.
Expansion Roadmap
Three phases. One campus. 3 MW to 15 MW buildout path.
All expansion phases are estimates contingent on operator lease execution. Not guarantees.
PHASE_01
In Discussion3 MW
TARGET_POWER
~$3.6M est.
ESTIMATED_CAPEX
TIMELINE: Q3 2026
Colocation operator lease execution. Modular Data Center solution deployment. Single operator anchor.
PHASE_02
Planned6 MW
TARGET_POWER
TBD
ESTIMATED_CAPEX
TIMELINE: Contingent
Secondary operator or anchor tenant expansion. Additional Modular Data Center solution expansion. Increased fiber utilization.
PHASE_03
Future10-15 MW
TARGET_POWER
TBD
ESTIMATED_CAPEX
TIMELINE: Long-term
Full campus data center development. Maximum power utilization. Multiple operators or hyperscale anchor.
Note: Only Building 17 is used in Phase 1. All return projections are based on that single building. The remaining 17 buildings represent expansion capacity not included in any current projections.
Campus Gallery
The Center — 1509 Rapids Drive, Racine, WI
Full campus photography, aerial survey imagery, and structural documentation are available to verified accredited investors upon briefing request.
Full photo documentation available
Exterior, interior, aerial, structural, and utility infrastructure photography. Shared under NDA with verified accredited investors.
INVESTOR_INTAKE · REGISTER YOUR INTEREST
Tell us about your position before the briefing.
Registering ensures the team has your details. Under 2 minutes. Creates your investor record in our CRM before the call.
Required Disclosures
Valuation Clarification
$12.0M is the MAI-certified appraisal figure (January 2025). Independent national appraisal firm (Newmark). ~$15.0M is an internal corridor-adjusted analysis — not a certified appraisal. Acquisition cost: $3.1M.
Pre-LOI Status
As of March 2026, three qualified colocation operators are in active discussion. No executed leases or signed letters of intent exist for the data center component at this time. Operator names and discussion status available under NDA to verified accredited investors upon briefing request.
Past Performance Caveat
Past performance is not indicative of future results. Forward-looking IRR and expansion projections are estimates based on current assumptions and are not guarantees of future performance.
Comparison Engine — Data Classification
The portfolio comparison tool on this page presents the SS069 preferred return range of 12–15% as a MODELED projection based on Phase 1 execution assumptions. All other benchmark returns are MARKET data sourced from publicly available third-party publications as cited. SS069 projected values are not guarantees. Past performance of benchmark indices does not predict SS069 returns. Stability scores are the manager's proprietary relative assessment — not a standardized financial metric. Venture Capital row data is pending source verification and is not displayed.
For Accredited Investors
Ready to Review the Full Investment Case?
No countdown timers. No pressure. A direct conversation about whether this opportunity fits your investment thesis. Expect a response within 48 hours.
Participation in any investment offering is available exclusively to verified accredited investors as defined under SEC Rule 501(a). This page is for informational purposes only and does not constitute an offer to sell or solicitation to purchase any security. No signed colocation LOIs as of March 2026.